METRO-RICHELIEU TO BUY 41 LOEB SUPERMARKETS

MONTREAL (FNS) -- Metro-Richelieu Inc. here has agreed to buy 41 Loeb supermarkets in Ontario for about $85 million (Canadian $125 million) from Provigo Inc.Provigo was recently acquired by Loblaw Cos. Ltd. of Toronto.Frozen out of the grocery industry consolidation in Canada last fall, Metro-Richelieu had the right of first refusal to acquire all 92 Loeb stores, but passed on the other 51 outlets

MONTREAL (FNS) -- Metro-Richelieu Inc. here has agreed to buy 41 Loeb supermarkets in Ontario for about $85 million (Canadian $125 million) from Provigo Inc.

Provigo was recently acquired by Loblaw Cos. Ltd. of Toronto.

Frozen out of the grocery industry consolidation in Canada last fall, Metro-Richelieu had the right of first refusal to acquire all 92 Loeb stores, but passed on the other 51 outlets and settled on the best ones in the Ottawa area and northeastern Ontario clo

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